Arkansas Administrative Code

23 CAR § 28-107. Severability. Any section or provision of this part held by a court to be invalid or unconstitutional shall not affect the validity of any other section or provision of this part.

23 CAR § 29-101. Purpose and scope. (a)(1) The purpose of this part is to establish financial and reporting requirements that the Insurance Commissioner ("commissioner") deems necessary for the regulation of captive insurance companies. (2) Reference hereinunder to "company" shal…

23 CAR § 29-102. Annual reporting requirements. (a)(1) An association captive insurance company and an industrial insured group doing business in this state shall quarterly and annually submit to the Insurance Commissioner a report of its financial condition, verified by oath of …

23 CAR § 29-103. Annual audit. (a)(1) All companies shall: (A) Have an annual audit by an independent certified public accountant authorized by the Insurance Commissioner; and (B) File such audited financial report with the commissioner on or before June 30 for the year ending De…

23 CAR § 29-104. Designation of independent certified public accountant. (a) Companies, after becoming subject to this part, shall within ninety (90) days report to the Insurance Commissioner in writing the name and address of the independent certified public accountant retained …

23 CAR § 29-105. Notification of adverse financial condition. (a) A company shall require the certified public accountant to immediately notify in writing an officer and all members of the board of directors of the company of any determination by the independent certified public …

23 CAR § 29-106. Availability and maintenance of working papers of the independent certified public accountant. (a)(1) Each company shall require the independent certified public accountant to make available for review by the Insurance Commissioner or his or her appointed agent t…

23 CAR § 29-107. Organizational examination. (a) In addition to the processing of the application, an organizational investigation or examination may be performed before an applicant is licensed. (b) Such investigation or examination shall consist of: (1) A general survey of the …

23 CAR § 29-108. Reinsurance. (a) Any captive insurance company authorized to do business in this state may take credit for reserves on risks ceded to a reinsurer subject to the following limitations: (1) No credit shall be allowed for reinsurance where the reinsurance contract d…

23 CAR § 29-109. Alternative investments of assets. A producer reinsurance captive insurance company which determines that bonds, notes, warrants, or other securities of reasonable quality or liquidity, as determined by the company's management and with the approval of the Insura…

23 CAR § 29-110. Insurance managers and intermediaries. (a) No person shall act as an insurance manager or reinsurance intermediary for captive business in or from within this state without the authorization of the Insurance Commissioner. (b) Application for such authorization mu…

23 CAR § 29-111. Directors. (a) Every company shall report to the Insurance Commissioner within thirty (30) days after any change in its executive officers or directors, including in its report a biographical affidavit of any new executive officer or director. (b) No director, of…

23 CAR § 29-112. Conflict of interest. (a)(1) Each company chartered in this state is required to adopt a conflict of interest statement for: (A) Officers; (B) Directors; and (C) Key employees. (2)(A) Such statement shall disclose that the individual has no outside commitments, p…

23 CAR § 29-113. Acquisition of control of or merger with domestic company. The acquisition of control of or merger of any company with a domestic insurance company shall be conducted pursuant to Arkansas Code § 23-69-142 et seq.

23 CAR § 29-114. Rescission of captive license. (a) The Insurance Commissioner may, subject to the provisions of this section, by order rescind the license of the company: (1) If the company has not commenced business according to its plan of operation within two (2) years of bei…

23 CAR § 29-115. Change of business. (a) Any change in the nature of the captive business from that stated in the company's plan of operation filed with the Insurance Commissioner upon application shall require prior approval from the commissioner. (b) Any change in any other inf…

23 CAR § 29-116. Adoption of application and forms. (a)(1) A proposed captive insurance company shall make application to the Insurance Commissioner for authority to conduct insurance business on the “Captive Insurance Company Application”, which is adopted as part of this part. …

23 CAR § 29-117. Application fees. (a) The fees required for filing an application for authority to conduct insurance business are as follows: (1) Filing and review of each application, two hundred dollars ($200); (2) License, when issued, three hundred dollars ($300); (3) Annual…

23 CAR § 3-101. Underwriting practices for individual accident, health, cash income, and life insurance policies. (a)(1) The following principles for the underwriting of individual policies shall be used by insurers authorized to transact such insurance in the state. (2)(A) A med…

23 CAR § 3-102. Unfair trade practices. (a)(1) The attention of all insurers and their agents is specifically directed to the provisions of the Arkansas Insurance Code: (A) Arkansas Code § 23-66-206, pertaining to misrepresentation of policy contracts; (B) Section 66-2215 (1-f), …

23 CAR § 3-103. Relations with policyholders. (a)(1) Sections 23-85-110 through 23-85-114 of the Arkansas Insurance Code set forth the required individual policy provisions dealing with: (A) Notice of claim; (B) Claim forms; (C) Proofs of loss; (D) Time of payment of claims; and …

23 CAR § 30-101. Purpose and scope. (a) Purpose. (1) This part governs the treatment of nonpublic personal health information and nonpublic personal financial information about individuals by all licensees of the State Insurance Department. (2) This part: (A) Requires a licensee …

23 CAR § 30-102. Rule of construction. (a) The examples in this part and the sample clauses in Appendix A of this part are not exclusive. (b) Compliance with an example or use of a sample clause, to the extent applicable, constitutes compliance with this part.

23 CAR § 30-103. Definitions. As used in this part, unless the context requires otherwise: (1) “Affiliate” means any company that controls, is controlled by, or is under common control with another company; (2)(A) “Clear and conspicuous” means that a notice is reasonably understa…

23 CAR § 30-201. Initial privacy notice to consumers required. (a) Initial notice requirement. A licensee shall provide a clear and conspicuous notice that accurately reflects its privacy policies and practices to: (1) Customer. An individual who becomes the licensee’s customer, …

23 CAR § 30-202. Annual privacy notice to customers required. (a) General rule. (1) A licensee shall provide a clear and conspicuous notice to customers that accurately reflects its privacy policies and practices not less than annually during the continuation of the customer rela…

23 CAR § 30-203. Information to be included in privacy notices. (a) General rule. The initial, annual, and revised privacy notices that a licensee provides under 23 CAR §§ 30-201, 30-202, and 30-205 shall include each of the following items of information, in addition to any othe…

23 CAR § 30-204. Form of opt-out notice to consumers and opt-out methods. (a) Form of opt-out notice. (1)(A) If a licensee is required to provide an opt out notice under 23 CAR § 30-301(a), it shall provide a clear and conspicuous notice to each of its consumers that accurately e…

23 CAR § 30-205. Revised privacy notices. (a) General rule. Except as otherwise authorized in this part, a licensee shall not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party other than as des…

23 CAR § 30-206. Delivery. (a) How to provide notices. A licensee shall provide any notices that this part requires so that each consumer can reasonably be expected to receive actual notice in writing or, if the consumer agrees, electronically. (b)(1) Examples of reasonable expec…

23 CAR § 30-301. Limits on disclosure of nonpublic personal financial information to nonaffiliated third parties. (a) Conditions for disclosure. (1) Except as otherwise authorized in this part, a licensee may not, directly or through any affiliate, disclose any nonpublic personal…

23 CAR § 30-302. Limits on redisclosure and reuse of nonpublic personal financial information. (a) Information the licensee receives under an exception. If a licensee receives nonpublic personal financial information from a nonaffiliated financial institution under an exception i…

23 CAR § 30-303. Limits on sharing account number information for marketing purposes. (a) General prohibition on disclosure of account numbers. A licensee shall not, directly or through an affiliate, disclose, other than to a consumer reporting agency, a policy number or similar …

23 CAR § 30-401. Exception to opt-out requirements for disclosure of nonpublic personal financial information for service providers and joint marketing. (a) General rule. The opt-out requirements in 23 CAR §§ 30-204 and 30-301 do not apply when a licensee provides nonpublic perso…

23 CAR § 30-402. Exceptions to notice and opt-out requirements for disclosure of nonpublic personal financial information for processing and servicing transactions. (a) Exceptions for processing transactions at consumer’s request. The requirements for initial notice in 23 CAR § 3…

23 CAR § 30-403. Other exceptions to notice and opt-out requirements for disclosure of nonpublic personal financial information. (a) Exceptions to opt-out requirements. The requirements for initial notice to consumers in 23 CAR § 30-201(a)(2), the opt out in 23 CAR §§ 30-204 and …

23 CAR § 30-501. When authorization required for disclosure of nonpublic personal health information. (a) A licensee shall not disclose nonpublic personal health information about a consumer or customer unless an authorization is obtained from the consumer or customer whose nonpu…

23 CAR § 30-503. Authorizations. (a) A valid authorization to disclose nonpublic personal health information pursuant to this subpart shall: (1) Be in written or electronic form; and (2) Contain all of the following: (A) The identity of the consumer or customer who is the subject…

23 CAR § 30-504. Authorization request delivery. (a) A request for authorization and an authorization form may be delivered to a consumer or a customer as part of an opt-out notice pursuant to 23 CAR § 30-206, provided that the request and the authorization form are clear and con…

23 CAR § 30-505. Relationship to federal rules. Irrespective of whether a licensee is subject to the federal Health Insurance Portability and Accountability Act of 1996 privacy rule as promulgated by the United States Department of Health and Human Services, codified at 45 C.F.R.…

23 CAR § 30-506. Relationship to state laws. Nothing in this subpart shall preempt or supersede existing state law related to medical records, health, or insurance information privacy.

23 CAR § 30-601. Protection of Fair Credit Reporting Act. Nothing in this part shall be construed to modify, limit, or supersede the operation of the federal Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and no inference shall be drawn on the basis of the provisions of thi…

23 CAR § 30-602. Nondiscrimination. (a) A licensee shall not unfairly discriminate against any consumer or customer because that consumer or customer has opted out from the disclosure of his or her nonpublic personal financial information pursuant to the provisions of this part. …

23 CAR § 30-603. Violation. A violation of this part may be deemed to be an unfair method of competition or an unfair or deceptive act and practice in this state in violation of Arkansas Code § 23-66-201 et seq.

23 CAR § 30-604. Severability. If any section or portion of a section of this part or its applicability to any person or circumstance is held invalid by a court, the remainder of the part or the applicability of the provision to other persons or circumstances shall not be affecte…

23 CAR § 31-101. Preamble. (a) This part establishes standards for developing and implementing administrative, technical, and physical safeguards to protect the security, confidentiality, and integrity of customer information, pursuant to Sections 501, 505(b), and 507 of the Gram…

23 CAR § 31-102. Definitions. For purposes of this part, the following definitions apply: (1) “Customer” means a customer as defined in 23 CAR § 30-103(9); (2)(A) “Customer information” means nonpublic personal information, as defined in 23 CAR § 30-103(21), about a customer, whe…

23 CAR § 31-103. Information security program. (a) Each licensee shall implement a comprehensive written information security program that includes administrative, technical, and physical safeguards for the protection of customer information. (b) The administrative, technical, an…

23 CAR § 31-104. Objectives of information security program. A licensee’s information security program shall be designed to: (1) Ensure the security and confidentiality of customer information; (2) Protect against any anticipated threats or hazards to the security or integrity of…

23 CAR § 31-105. Examples of methods of development and implementation. (a) The actions and procedures described in 23 CAR §§ 31-106 – 31-109 are examples of methods of implementation of the requirements of 23 CAR §§ 31-103 and 31-104. (b) These examples are nonexclusive illustra…